Featured Articles
Loan Structuring...
Today, there is an immense selection of different lenders for dealers to choose from. Each lender will have different tiers...
Credit Bureaus Overview...
A Credit Bureau is an agency that gathers information about consumers’ credit relationships and provides creditors with...
Recent From Prime/Nonprime Finance
Fighting Fraud with the Red Flags Rule
From the Federal Trade Commission
Protecting America’s Consumers
A How-To Guide for Business
As many as nine million Americans have their identities stolen each year. Identity thieves may drain their accounts, damage their credit, and even endanger their medical treatment. The cost to businessess...
Recent From Sales/Leasing/Marketing
Introduction to Sales
People love cars and the decision-making process: the model, equipment, color and so forth. They take pride in the possession of a new car. What they generally don’t like is the experience of shopping for a new car. They often feel manipulated and mismanaged. Regardless of the deal they negotiated,...
Recent From Finance Products
Extended Service Contract Overview
GENERAL INFORMATION
An Extended Service Contract is a promise to perform or pay for certain repairs or services. It is a written contract between the dealer and the buyer that is purchased to protect the vehicle for a specific period of time. This contract allows repairs to be made in accordance with...
Recent From F&I Menu/Objection Handling
Customer Interview Process Steps
The customer interview process is comprised of the following steps:
Meet and Greet
Review the Purchase Order
Review the Credit Application
Review the Credit Report
MEET & GREET
There are two methods utilized at dealerships for the Meet & Greet.
Go to the Customer
The Finance Manager goes...
The Finance Department’s services focus attention on the benefits of financial arrangements and protection for both customers and their new vehicles. Today a good Finance Department adds substantially to a dealer’s survival in this economy.
Finance Department income is generated from various sources including the Finance Products. Profits from these products contribute greatly to the total finance profit. Controlling the financing and presentation of the finance products also protects the gross profit of the Sales Department and secures the deal transaction.
Finance managers act as advisers, helping customers consider the advantages and disadvantages of alternatives that are available to them. In the end customers should select those services that are appropriate to their circumstances and in their best interest. When this approach is taken, everyone ultimately wins.